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HomeFinancial CodeDiv. 15Ch. 7§ 31501 Licensee Recordkeeping Requirements

§ 31501 Licensee Recordkeeping Requirements

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 31501 Licensee Recordkeeping Requirements

Key Takeaways

  • •If you have a special license (like for a business), you must keep records of what you do.
  • •The boss (called the 'commissioner') decides what records you need and how to keep them.
  • •You must keep these records for as long as the boss says, and store them where the boss tells you.

Example

You own a small food truck and have a license to sell food.

The government says you must write down every time you buy ingredients, how much you sell, and keep those notes for 3 years. If you don’t, you could get in trouble.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 31501 Licensee Recordkeeping Requirements

Each licensee shall make and keep such books, accounts, and other records in such form and in such manner as the commissioner may by regulation or order require. All records so required shall be kept at such place and shall be preserved for such time as the commissioner may by regulation or order specify. (Amended by Stats. 1996, Ch. 1064, Sec. 661. Effective January 1, 1997. Operative July 1, 1997.)

Last verified: January 23, 2026

Key Terms

regulationcommissionlicenseoperative july

Related Statutes

  • § 31504 Annual Licensee Audit Report
  • § 31508 Licensee Recordkeeping Approval
  • § 31502 Asset Valuation Limits
  • § 31503 Asset Valuation Adjustment
  • § 31509 Commissioner Report Publication Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 31501.
View Official Source